Paper XVIII: Indian Economy - Performance and Policies

Duration: 3 hrs.

Max. Marks: 75

Section 1: Basic Issues In Economic Development: Concept and Measures of development and
Underdevelopment; Human Development.
Section 2: Basic Features of the Indian Economy at Independence: Composition of national
income and occupational structure, the agrarian scene and industrial structure.
Section 3: Policy Regimes:
a) The evoltion of planning and import substituting industrialisation.
b) Economic reform and liberalisation.
Section 4: Growth, Development and Structural Change:
a) The experience of Growth, Development and Structural Change in different phases of
growth and policy regimes across sectors and regions.
b) The Institutional Framework; Patterns of assets ownership in agriculture and industry;
Policies for restructuring agrarian relations and for regulating concentration of
economic power.
c) Changes in policy perspectives on the role of institutional framework after 1991.
d) Growth and distribution; Unemployment and Poverty; Human Development;
Environmental concerns.
e) Demographic constraints: Interaction between population change and economic
development.
Section 5: Sectoral Trends and Issues:
a) Agriculture: Agrarian growth and performance in different phases of policy regimes i.e.
pre green revolution and the two phases of green revolution; Factors influencing
Productivity and growth; the role of technology and institutions; price policy, the public
distribution system and food security.
b) Industry and Services; Phases of Industrialisation - the rate and pattern of industrial
growth across alternative policy regimes; Public sector - its role, performance and
reforms; The small scale sector; Role of Foreign capital.
c) The Financial Sector: Structure, Performance and Reforms.
d) Foreign Trade and balance of Payments: Structural Changes and Performance of India's
Foreign Trade and Balance of Payments; Trade Policy Debate; Export policies and
performance; Macro Economic Stabilisation and Structural Adjustment; India and the
WTO.
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Readings:
1. Todaro, Michael P. and Stephan C. Smith, Economic Development, eighth edition.
2. Bettleheim, Charles. India Independent. Chapters 1, 2 and 3.
3. Bhagwati, J. and Desai, P. (1970) India: Planning for industrialisation, OUP, Ch2.
4. Patnaik, Prabhat. "Some Indian Debates on Planning" in T.J. Byres (ed.), The Indian
Economy: Major Debates since Independence, OUP, 1998.
5. Dandekar, V.M. "Forty Years After Independence" in Bimal Jalan (ed.), The Indian
Economy: Problems and Prospects, Viking, New Delhi, 1992.
6. Ahluwalia, Montek S. "State-level Performance under Economic Reforms in India" in
A.O. Krueger (ed.), Economic Policy Reforms and the Indian Economy, The University of
Chicago Press, 2002.
7. Nagaraj, R. "Indian Economy since 1980: Vitrious Growth or Polarisation?", Economic
and Political Weekly, August 5, 2000, pp. 2831-39.
8. Ray, S.K. "Land Systems and its Reforms in India" Sections II & III, Indian Journal of
Agricultural Economics, Vol. 51 Nos 1 & 2 Jan - June, 1996, 1996.
9. Visaria, Pravin "Demographic aspects of Development: The Indian Experience", Indian
Journal of Social Sciecnes, Vo1.6, No.3, 1993.
10. Dreze, Jean and Amartya Sen, "Economic Development and Social Opportunity", Ch. 2
OUP, 1995.
11. Vaidyanathan, A. "India's Agricultural Development Policy", Economic and Political
Weekly, May 13, 2000.
12. Rao, J. Mohan and Servaas Storm, "Distribution and Growth in Indian Agriculture" in T.J.
Byres (ed.), The Indian Economy: Major Debates since Independence, OUP, 1998.
13. Sawant, S.D. and C.V. Achuthan. "Agricultural Growth Across Crops and Regions:
Emerging Trends and Patterns", Economic and Political Weekly, Vol 30 A2-A13, 1995.
14. Krishnaji, N. "Agricultural Price Policy: A Survey with Reference to Indian Foodgrain
Economy", Economic and Political Weekly, Vol 25, No. 26,1990.
15. Srinivasan, T.N. Eight Lectures on India's Economic Reforms, OUP, 2000.
16. Nayyar, Deepak (ed.) Industrial Growth and Stagnation: The Debate in India, Sameeksha
Trust and OUP, 1994. pp. (Introduction).
17. Chaudhuri, Sudip. "Debates on Industrialisation" in T.J. Byres (ed.). The Indian Economy:
Major Debates since Independence, OUP, 1998.
18. Chandra, Nirmal K. "Growth of Foreign Capital and its Importance in India:
Manufacturing" in Economic and Political Weekly Vol 26, No. 1.1, 1991
19. Khanna, Sushil, "Financial Reforms and Industrial Sector in India" .Economic and Political
Weekly Vol 34 No. 45, 1999.
20. Bhaduri, Amit and Deepak Nayyar, 1995, An Intelligent Person's Guide ,: Economic
Liberalisation, Penguin Books, New Delhi.
21. Ghosh, Jayati, "Uberalisation Debates" in T.J. Byres (ed.). The Indian Economy: Major
Debates since Independence, OUP, 1998.
22. Vaidyanathan, A. "Poverty and Development Policy" Economic and Politica. Weekly,
May, 26, 2001.
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23. Deaton, A and Jean Dreze "Poverty and Inequality in India," Economic and Political
Weekly, September 7, 2002.
24. Planning Commission, Task Force on Employment Opportunities, 2001, Ch. 1 and 2.
25. Bhalla, G.S. Policy for Food Security in India.
26. Uma Kapila (ed.), Indian Economy since Independence, Relevant articles.
27. Nayyar, Deepak Economic Liberalisation in India: Analytics, Experience ana Lessons RC
Dutt Memorial Lecture Series, Orient Longman, March 1995.
28. Rangarajan, C. and N. Jadhav, (2000), 'Issues in Financial Sector Reforms in Bimal Jalan
(ed) The Indian Economy, Oxford University Press, New Delhi.
29. Nayyar, Deepak "Macroeconomic Reforms in India: Short Term Effect and long Run
Implications" in Wahiduddin Mahmud (ed.) Adjustment and Beyond: The Reform
Expereince in South Asia, Palgrave, London 2000.
30. Ahluwalia, Isher, "The Indian Economy: Looking Ahead" in Wahiduddin Mahmud (ed.)
Adjustment and Beyond: the Reform Experience in South Asia, Palgrave, London 2000.
31. Chakravarty, Sukhamoy, Development Planning - The Indian Experience, Oxford
University Press, Delhi, 1994.

Paper XIX: Elective Group EA: Finance I

Financial and Investment Management
Financial Management
Objective: To familiarise the students with the principles and practices of
financial management.
Course Contents
Unit I: 8 Lectures
1. Scope and objective, Time value of Money, Risk and return, Valuation of
securities - Bonds and Equities.
1. 92

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